D.A. Davidson & CO. Makes New Investment in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

D.A. Davidson & CO. bought a new stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 24,300 shares of the restaurant operator’s stock, valued at approximately $402,000.

A number of other institutional investors have also made changes to their positions in BLMN. Cetera Advisors LLC acquired a new stake in Bloomin’ Brands in the 1st quarter valued at about $867,000. SG Americas Securities LLC grew its stake in shares of Bloomin’ Brands by 219.2% during the second quarter. SG Americas Securities LLC now owns 165,705 shares of the restaurant operator’s stock valued at $3,187,000 after purchasing an additional 113,798 shares during the last quarter. Xcel Wealth Management LLC increased its holdings in shares of Bloomin’ Brands by 27.0% in the second quarter. Xcel Wealth Management LLC now owns 207,853 shares of the restaurant operator’s stock valued at $3,997,000 after purchasing an additional 44,187 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Bloomin’ Brands by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock worth $536,000 after purchasing an additional 718 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its holdings in Bloomin’ Brands by 4.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 588,864 shares of the restaurant operator’s stock worth $11,324,000 after buying an additional 23,466 shares in the last quarter.

Bloomin’ Brands Trading Down 2.6 %

BLMN opened at $13.00 on Wednesday. The firm’s fifty day moving average is $15.26 and its two-hundred day moving average is $17.41. The firm has a market cap of $1.10 billion, a PE ratio of -118.17 and a beta of 1.95. Bloomin’ Brands, Inc. has a twelve month low of $12.26 and a twelve month high of $30.13. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 7.38%. Bloomin’ Brands’s dividend payout ratio is presently -872.65%.

Wall Street Analyst Weigh In

BLMN has been the subject of several research reports. Piper Sandler dropped their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. BMO Capital Markets lowered their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Citigroup cut their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Finally, Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Profile

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.